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ONLINE DIRECTOR REDUNDANCY CALCULATOR

If you are a director of a business that is no longer solvent and you are looking at different ways you can handle its liquidation, then working out redundancy settlements should be a priority.

At Salient Insolvency, we make it easy for company directors to work out what they might be able to obtain in a redundancy settlement thanks to our handy, online calculator. Simply enter a few details into the online assessment tool and it will give you an approximation of what the value of your director’s redundancy might be. This is a good first indication of how much you might be entitled to given the current state of your firm’s financial affairs. Of course, there are many factors to take into consideration with business finances, especially those of limited liability companies. That said, understanding the level of redundancy pay you could claim will go a long way in helping you to establish which course of action to take next with your business.

Please note that limited company directors are entitled to claim redundancy in the event that their firm goes into a formal company liquidation or closure process. You might not want to begin these sorts of proceedings until you have checked the director redundancy entitlement that could be on offer in your case. If you were to choose to proceed with a voluntary liquidation process, such as a Creditors’ Voluntary Liquidation, or CVL, knowing exactly what the directors of your firm would be entitled to claim beforehand would be beneficial. Before deciding on any particular company closure or dissolution route, confirm the level of redundancy pay, as well as other statutory entitlements, you might be entitled to.

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FIND OUT WHETHER A DIRECTOR REDUNDANCY IS RIGHT FOR YOU

Our online director redundancy calculator won’t take into account every single detail of your current financial position. However, it will offer an invaluable insight into your legal entitlements. Remember that limited liability company directors are officially classified as employees of the businesses they run. As such, they have similar legal rights to redundancy awards as non-executive employees. It will depend on the length of service, the level of salary that is paid to directors and the age of the director concerned – among other factors – but our calculator will deal with these to offer a good indication of what level of entitlement there may be.

OBTAIN IN-PERSON DIRECTOR CONSULTATIONS FROM SALIENT INSOLVENCY

Director redundancy settlements can be of huge benefit to the directors of ailing companies at what could be a financially stressful time. Some directors simply do not know that they are able to claim redundancy pay. That's why turning to the professional insolvency practitioners at Salient Insolvency can be so useful – we will be able to guide you through the process to ensure you obtain your fullest entitlement. Although there are certain rules to take into account, such as the twenty-year cap on director redundancy claims, our expertise will help to make the best of a difficult situation. Please note that we can also advise on redundancies for IR35 tax status contractors as well as limited liability company directors.

Online Liquidation Assessment

Even when companies are insolvent, it does not necessarily mean that they ought to apply for liquidation. Cash flow problems can be temporary, after all, so assess your situation with our handy assessment tool.

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